Assignment

MultipleChoiceQuestions(MCQ's)

1. A village has seen its population increase significantly and thus an increase in demand forMaize, but a drought has resulted in a drop in the harvest of maize. Based on the giveninformation.Which ofthe followingstatements is/arecorrect?
   1. Thedemandcurveformaizeshifts totheright
   2. Thesupplycurveformaizeshiftsto theright
   3. Thesupplycurveformaizeshifts totheleft
   4. Thedemandcurveformaizeshiftsto theleft

1. Whichofthe followingis/arecorrect?
2. Inamarketeconomy,thepricesandquantitiestradedinthegoodsmarketaredetermined bythe interaction ofsupplyand demand.
3. Demandistheoutcomeofdecisionsaboutwhichwantstosatisfy,givenavailablemeans
4. Demandreferstoquantitiesofagoodorservicethatpotentialbuyersarewillingand able to buy
5. Demandisonlyeffectiveiftheconsumerisableandwillingtopayforthegoodorserviceconcerned
   1. OnlyIandIV

1. OnlyII,IIIandIV
2. OnlyIandII
3. Allthestatementsareincorrect

1. Animprovement intechnologyintheproductionofwoodenchairs, willlead to

1. Anincreasein thesupplyof wooden chairs produced
2. Rightwardshift of thewooden chairs supplycurve
3. Adecreasein supplyof wooden chairs
4. Leftwardshift ofthewooden chairssupplycurve
   1. OnlyIandIV

1. OnlyII,IIIandIV
2. OnlyIandII
3. Allthestatementsareincorrect

1. Thesimple demandcurvebelowshows that: